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GE, LM complete €1.5bn deal

Acquisition brings US turbine supplier's blade manufacturing in houes

GE, LM complete €1.5bn deal image

GE has completed its €1.5b acquisition of Danish blade manufacturer LM Wind Power following regulatory approval for the deal in Europe, the US, China and Brazil.

First announced in October, the acquisition brings blade design and manufacturing in house for GE, one of the world's largest suppliers of wind turbines.

"The completion of the acquisition provides us with the operational efficiencies necessary to support the growth of our wind turbine business, which is the fastest growing segment of power generation," GE Renewable Energy chief executive Jérôme Pécresse said.

LM Wind Power was sold to GE by London-based private equity firm Doughty Hanson.

Image: LM Wind

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